50-year-old Suzette Anguay pleaded guilty to federal mail fraud charges relating to a Ponzi Scheme she operated.
FBI officials say she swindled more than $800,000 from 15 families.
They say Anguay promised the families investment returns of 15 to 30 percent per year, but none of the money was invested.
Anguay was released on bond and will be sentenced February 13, 2014.
Officials say the maximum prison sentence for mail fraud is 20 years.